Pak- Belarus Bilateral Trade Reaches $60 Million: Ambassador METELITSA

ISLAMABAD, (UrduPoint / Pakistan Point News - 21st Mar, 2024) Ambassador of Belarus to Pakistan, Andrei METELITSA, has said that bilateral trade between Pakistan and Belarus currently amounts to $60 million, but the potential for bilateral trade between the two countries is much greater.

The trade turnover between Belarus and Pakistan ranges from $30 to $115 million annually, approximately $60 million on average, according to Andrei METELITSA, Ambassador of Belarus to Pakistan.

METELITSA said this while addressing a gathering of businessmen at the Islamabad Chamber of Commerce and Industry (ICCI). The event was hosted by ICCI President Ahsan Zafar Bakhtawri, according to a press release issued on Thursday.

The Ambassador said that diplomatic, economic, and trade ties between Pakistan and Belarus consist of three decade and diplomatic relations between the two countries began on February 3, 2024.

The Ambassador of Belarus said that Pakistan and Belarus are geographically important countries in South Asia and Eastern Europe, and trade relations between them are being developed.

The envoy said that the trade between Pakistan and Belarus is high-value engineering goods, especially tractors and trucks, and along with this, Belarus is also exporting Potassic Fertilizers, Agriculture, Synthetic Filament Tow, Chemicals, and malt extract to Pakistan.

Along with this, House Linens, textiles, rice, Citrus, leather apparel, leather footwear and medical instruments from Pakistan.

In response to a question, he said that talks about a Free Trade Agreement or Preferential Trade Agreement between Pakistan and Belarus negotiation have not started yet, but there are possibilities in this regard.

The Ambassador said that Belarus has a well-developed industrial sector, which accounts for around 30% of the country’s GDP.

Some of its main industries are tractors and other agricultural machinery, automotive industry, chemical and petrochemical industries, pharmaceutical, biotechnological, timber and woodworking industries, and production of milk and meat, he said.

“Our country produces tractors, regular trucks and heavy mining dump trucks “BELAZ”, electric buses and trolleybuses, household appliances “ATLANT” and “GEFEST”, X-ray equipment for security and healthcare purposes by “ADANI”, baby food “Belact”, flax fabrics, chemicals and petrochemicals, timber, amino acids, and gluten, pharmaceutical, biotechnological and other products”, he said.

The Ambassador expressed the possibility that the President of Belarus, Aleksandr Lukashenko will visit Pakistan soon and during this time trade and economic agreements will be started in both countries and talks will be started in several sectors, which will further increase the economic relations between the two countries.

He said that Belarus has signed trade agreements for mutual trade with several trade blocs, including the regional countries, from which Pakistan can definitely benefit.

“I see the importance of Chambers of Commerce as an instrument promoting bilateral and bringing together the business of two countries and as we all well know contracts are signed and implemented by business”, he said.

The envoy said the Embassy of Belarus is ready to cooperate with the Islamabad Chamber of Commerce in identifying Belarusian and Pakistani businessmen with a coinciding interest and connecting them.

On this occasion, President Islamabad Chamber of Commerce and Industry, Ahsan Zafar Bakhtawari said that Belarus is an important country in Eastern Europe with which Pakistan's free trade agreement is inevitable and it will increase trade between the two countries.

He said that in order to increase the relations between the business community of Pakistan and Belarus, trade delegations should be started on both sides so that the businessmen of both countries can understand each other's market and new sectors can come in bilateral trade, he said.

Ahsan Bakhtawari said that in this regard, he will take the initiative to lead a delegation of Islamabad Chamber of Commerce and Industry to Belarus.

He said that in the same way, businessmen of different sectors from Belarus should visit Pakistan and the Islamabad Chamber will host them here.

Meanwhile, Secretary General of United Business Group, Zafar Bakhtawari and Chairman Founder Group, Islamabad

Chamber of Commerce and Industry, Khalid Iqbal Malik, while discussing the nature and strength of economic relations between Pakistan and Belarus, said that the volume of mutual trade between the two countries has not reached its potential and in this regard, the private sector will have to come forward to increase the trade from both sides.

This senior businessman, executives of ICCI, and representative of Belarus Chamber of Commerce and Industry Jurabek Kirgizbekov also urged to further strengthen trade relations between the two countries.